|Bid||0.78 x 0|
|Ask||0.64 x 0|
|Day's range||0.71 - 0.74|
|52-week range||0.61 - 0.92|
|PE ratio (TTM)||41.76|
|Earnings date||15 Aug. 2018|
|Forward dividend & yield||0.03 (4.24%)|
|1y target est||0.81|
A jump in the share price of Fairfax Media Limited (ASX:FXJ) has come about, as a result of an upbeat presentation focusing on Domain.
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Shares in Retail Food Group have continued to plummet for a second day after a damaging profit warning from the embattled owner of the Gloria Jean's, Michel's Patisserie and Donut King brands,. The franchise chain owner's shares have now fallen 63 per cent since December 11, after Fairfax Media first published stories from an investigation into allegations of high fees and financial stress suffered by franchisees. The Fairfax reports have also claimed that significant proportions of Gloria Jean's and Pizza Capers franchises are up for sale.
Shares in Gloria Jean's owner Retail Food Group have plunged to an eight year low after the company warned its half year profit is set to fall by more than a third. A 25 per cent fall in the company's share price on Tuesday to $1.98, its lowest level since August 2009, caps a 55 per cent fall since December 9, when Fairfax Media first published reports accusing the company of mistreating franchisees. More than $440 million has been wiped from Retail Food Group's market value in under a fortnight.
Fairfax has failed in its bid to overturn a decision by New Zealand's competition watchdog blocking a merger between its local assets and rival NZME. New Zealand's High Court on Tuesday dismissed the media firms' appeal, backing the NZ Commerce Commission's assessment of the likely impact on online national news and Sunday newspapers, plus reader and advertising markets for some community papers. Fairfax Media chief executive Greg Hywood said the ASX-listed company will review the judgement in detail when it becomes available.
Retail Food Group shares have plunged to a five-year low amid ongoing media reports its business model has left many Gloria Jean's, Brumby's and Donut King franchisees struggling. Fairfax Media has reported RFG is charging franchisees exorbitant fees - including high food costs - to grow the company's profits, but that the business model has allegedly forced some to underpay staff. Consultancy and research group Franchise Redress began looking into six brands owned by the Retail Food Group - Donut King, Brumby's, Gloria Jean's, Michel's Patisserie, Crust Pizza and Pizza Capers - in earnest since October after fielding complaints from a number of parties.
Fairfax Media has secured a partnership with Google to boost its digital advertising and publishing technology and drive digital subscription growth. The publisher said Google will help it sell and market advertising for The Sydney Morning Herald, The Age, The Australian Financial Review, WAtoday, Canberra Times, Brisbane Times, and lifestyle products. Fairfax's commercial team will begin working with Google in 2018, focusing on premium ad products, relationships with clients and innovative commercial solutions.
Shares in the owner of Gloria Jean's, Donut King and Brumby's Bakery have tumbled to a five-year low following claims it is charging exorbitant fees that are running franchisees into the ground. Gold Coast-based Retail Food Group is the country's biggest food franchise operator and also boasts brands such as Crust Pizza, Pizza Capers, Michel's Patisserie, Cafe2U, The Coffee Guy and Esquires Coffee. Its shares plunged 26.14 per cent, or $1.15, to $3.25 on Monday following Fairfax Media reports at the weekend about the mistreatment of franchisees.
Fairfax Media and news website HuffPost Australia have called time on their joint venture, leaving the jobs of dozens of staff in doubt. Staff from HuffPost Australia have taken to social media lamenting the decision which comes just two years after the website's American parent Huffington Post teamed up with Fairfax to launch a local version of the news site. Talent, passion and integrity," editor-in-chief Tory Maguire tweeted.
Domain is overvalued at $2 billion and the property advertiser's share price is "excessive", analysts have said. Citi analysts on Friday rated the newly listed Fairfax spinoff a "sell" and set a target of $3.40 per share, about eight per cent below their price on the second day of trade on the ASX. "While we have a positive view on the earnings trajectory for DHG (Domain), the current valuation is excessive in our view," Citi analysts said in a note.
Investors can finally put a number on Fairfax Media Ltd.’s main earnings driver, the property-listings business, which has thrived amid Australia’s real-estate boom.